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- Childhood technology business TALi Digital (TD1) said its third-quarter has been a “unique opportunity” for the company
- TALi has now completed its Australian marketing and sales strategy for its TALi health products, which aim to increase children’s attention spans in early childhood
- During this period, TALi also launched its Happier Kids Kit, designed to offer practical support to parents, health providers and teachers with the at-home learning education
- TALi ended the quarter with $5.1 million net cash in the bank, down from the $6.1 million recorded at the end of last quarter
- The company reported a net operating cash outflow of $800,000 — a big increase on the $100,000 spent last quarter
- In the last quarter of the 2020 financial year, the company will focus on its national marketing campaign
- TALi is down 6.45 per cent on the market this morning, trading for 2.9 cents each
Childhood technology business, TALi Digital (TD1) said the third quarter has been a “unique opportunity” for the company.
As the coronavirus pandemic hit the world, online learning became increasingly popular as isolation forced kids to learn from home. TALi had to mobilise its sales force to keep up with the high demand.
By the end of the March quarter, TALi completed its Australian marketing and sales strategy its TALi health products, which aim to increase children’s attention spans in early childhood.
During the period, TALi also launched a Happier Kids Kit. This kit is designed to offer practical support to parents, health providers and teachers with the at-home learning education.
Cash outlook
“Despite the current economic and social conditions resulting from the COVID-19 pandemic, TALi remains in a robust financial position to execute against its plan for commercial growth,” the company said.
TALi ended the quarter with $5.1 million net cash in the bank which is down from the $6.1 million recorded at the end of the December quarter. During March, the company also implemented a cash preservation strategy to ensure it had enough cash for future activities.
The company reported a net operating cash outflow of $800,000 during the period — a big increase on the $100,000 spent last quarter. TALi also banked $7000 in cash receipts from its customers over the quarter.
TALi DETECT and Google
Since the start of TALi’s early access program in October 2019, TALi DETECT has been used on primary children between ages five and seven in Victoria.
Data from the first 1086 school-aged children to use TALi DETECT in schools, clinics and home has now been analysed.
TALi says approximately 13 per cent of the group using TALi DETECT struggled with a higher level of inattentive performance, compared to the company’s normative sample of Australian children. It’s hoped that the TALi technology will help address those attention issues.
Additionally, in January, the company achieved Google for Education Partner status. This means TALi’s TALi Train and TALi Detect products can be accessed via the Google education suite.
Next quarter
In the last quarter of the 2020 financial year, the company says it will focus on its national marketing campaign.
The sales team will hone in on the educational sector, while its international partners will progress with a global rollout strategy.
TALi is down 6.45 per cent on the market this morning, trading for 2.9¢ each at 10:50 am AEST.
